Nandivsuren B. is 42 years old and lives with her husband and two children in the Bayanzurkh district of Ulaanbaatar, the largest city and capital of Mongolia. She and her family live together in a ger, a traditional Mongolian housing tent. Her oldest child currently attends university and her youngest is a high school student.
B. operates a meat-trading business at a small market in the city. She purchases a large amount of meat during the summer and fall and preserves it for sale in the winter when it is in high demand. She started her business in 1998, selling only goat meat, and has become very experienced in her trade.
Today, B.’s business is a very stable operation, and she hopes to expand in the future. Her dream is to one day open a meat-trading center to sell a variety of meat to the people of the city. She continues to support her family with her business and hopes to one day pass it down to her children.
B. is requesting a 3,000,000 tugrug loan to purchase goat meat for her business, and to help her oldest daughter purchase her own ger.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.